Strive Finalizes $750M Investment to Accelerate Bitcoin Alpha-Generation Approach

Strive Raises $750 Million in PIPE Round to Accelerate Bitcoin Treasury Growth with Alpha-Focused Strategy

Strive has successfully closed a $750 million private investment in public equity (PIPE) financing, with an option to raise an additional $750 million pending warrant exercises, setting the stage for total proceeds of up to $1.5 billion.

The newly raised funds will be used to initiate bitcoin (BTC $110,312.58) acquisitions as part of Strive’s plan to build a substantial bitcoin treasury. Founded by Vivek Ramaswamy, Strive aims to implement alpha-generating investment tactics designed to deliver returns that surpass bitcoin’s own price performance.

According to CEO Matt Cole, the firm’s strategy calls for a novel valuation approach. This includes targeted acquisitions of undervalued biotech companies, claims on distressed bitcoin assets—including Mt. Gox claims through a collaboration with 117 Partners LLC—and discounted segments of structured bitcoin credit products.

Strive recently announced ambitions to acquire roughly $7.9 billion in Mt. Gox bitcoin claims as it scales its treasury and pursues a public listing through a merger with Asset Entities (ASST).

The PIPE shares were priced at $1.35 each, marking a 121% premium over ASST’s pre-announcement closing price. The deal excludes debt financing to preserve the company’s future leverage potential.

Matt Cole is scheduled to present Strive’s strategy at the upcoming Bitcoin for Corporations Symposium in Las Vegas.

Cantor Fitzgerald & Co. served as exclusive financial advisor and placement agent, with legal counsel provided by Davis Polk, DLA Piper, and Bevilacqua PLLC.


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